NAVIENT CORP (NAVI): M&A transaction — Navient completes sale of Xtend Healthcare (healthcare services) to CorroHealth for $369M

NAVIENT CORP

Sale price $369M ($365M base + ~$4M working capital adjustments); closed Sept 19, 2024.
Estimated pre-tax gain of $216M ($166M net of tax) recorded in equity.
Pro forma shows removal of Healthcare Services revenues: $121M (FY2023) and $60M (H1 2024).
Net cash proceeds ~$362M after ~$7M transaction costs.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NAVIENT CORP completed a disposition involving Coding Solutions Acquisition, Inc. (CorroHealth) for $369 million ($365 million of total consideration, plus an estimated $4 million of working capital and other adjustments to the contractual price) (closed 2024-09-19).

Action: disposition
Counterparty: Coding Solutions Acquisition, Inc. (CorroHealth)
Consideration: $369 million ($365 million of total consideration, plus an estimated $4 million of working capital and other adjustments to the contractual price)
Closing: 2024-09-19

Exact text from the filing

On September 19, 2024, Navient Corporation (the “Company”) completed the sale of its equity interests in Xtend Healthcare, LLC, which comprised the Company's healthcare services business in its Business Processing segment to Coding Solutions Acquisition, Inc. (CorroHealth) for $369 million ($365 million of total consideration, plus an estimated $4 million of working capital and other adjustments to the contractual price).

View on SEC.gov

5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

NAVIENT CORP filing history →

Source: SEC EDGAR

accession 0001140361-24-041514

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.